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Brian Tracy
A leading authority on the development of human potential and personal effectiveness, Brian Tracy is a dynamic speaker with a wonderful ability to inform and inspire audiences. He is the president of the Institute for Executive Development and was formerly the president of a major development company. The author of numerous books and other materials aimed at helping people perform at their peak and achieve their full potential, Tracy has shared his winning insights with thousands of people throughout the world.
  Three Factors for Financial Success   #774
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What do wealthy people do or have that enables them to accomplish so much more than the average? I believe that these people are successful as a result of what I call leverage.

Leverage is the key to maximizing and multiplying your potential for success and financial achievement. Here are three examples of leverage that you can develop to achieve financial independence:

• First, become an expert in your chosen field. Read all the books, take all the courses, listen to all the audio programs. Second, specialize in those areas that are of greatest importance and greatest value to your company or to your customers. Third, know your product or service inside out. Aim to be recognized as the industry expert in your field. Remember — the person who has the expertise has a far greater contribution to make than the person whose knowledge is just average.

• The second type of leverage is skill. The better you are at your job, the more you will be paid. The top 20 percent of salespeople earn as much as 10 and 15 times the average earnings of the bottom 80 percent. There are three keys to developing the leverage of skill. First, make a decision to be the best. Pay any price. Make any sacrifice. Go any distance to become excellent at what you do. Second, engage in continuous improvement. Never allow yourself to become satisfied or complacent at your current level of skill. Third, always strive to exceed the expectations of your customers, of your boss, of the people you serve. Always do more and better than you're paid for.

• The third type of leverage is money. Money is a powerful source of leverage and usually follows the development of knowledge and skill in your field. One of the reasons it takes money to make money is that the accumulation of funds is an essential step in the development of the personal qualities and character that must precede the achievement of financial independence. In other words, you become a person capable of becoming financially independent by accumulating the funds that are necessary for you to achieve it in the first place.

Now, here are two things you can do immediately to put these ideas on personal leverage into action.

First, resolve today to become an expert in your chosen field. Set it as a goal, make a plan and work every day to become a little bit better in the most important things you do.

Second, develop the habit of saving money out of every single paycheck. It was once said that "If you cannot save money, the seeds of greatness are not in you." The very act of regular saving changes your character and gets you ready to achieve financial independence.

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